Forex Daily

Euro rises after SNB starts buying in Asia

Forex News — Fri, 05 Feb 2010 12:01:46 +0000

The euro rose off 15-month lows today as the Swiss National Bank sold francs for euros during Asian trading. The euro has been under pressure for the last month hitting lows against a host of major currencies, but took a swift leap as the SNB stepped in.

The euro rose 0.6% against the franc to 1.4730 and ended the session slightly up against the dollar at $1.3711. The euro also rose 0.5% against the yen to 122.91 after hitting a month low of 121.57 last night.

Elsewhere the Australian and New Zealand dollars edged up against the US dollar after hitting four and five month lows yesterday, with the Australian dollar also climbing 1% against the yen. The US dollar rose 0.7% against the franc and 0.7% against the yen to 1.0738 and 89.70 respectively.

Euro up as Australian job data raises risk appetite

Forex News — Thu, 12 Nov 2009 14:41:30 +0000

The euro was bolstered against the yen and dollar today, as better than expected Australian jobs data spurred investors to buy riskier assets. The euro rose to 134.62 against the yen and $1.49889 against the dollar in the Asian session, and could extend its gains against the greenback if US weekly jobless claims data shows that less people are claiming benefits.

Meanwhile the Australian dollar rose to a 15-month high of $0.9372 against the US dollar and hit a 2 week high of 84.23 against the Yen. The Australian jobs data showed nearly 25,000 more people in work during October, compared to the expected 10,000 decline, but unemployment still rose to 5.8% as expected.

Having lost ground to both the Australian dollar and the euro, the US dollar steadied against the yen, ending the session at 89.82 yen.

Yen bolstered as investors move from riskier assets

Forex News — Fri, 02 Oct 2009 09:33:41 +0000

The yen rose against the euro and dollar on Friday, as investors move from riskier currencies after a stream of bad US economic data. Things may get worse for the greenback later today as key US employment data is released, and if poor may accelerate the yen’s gains.

The yen saw a gain of 0.2% against the dollar during trading, finishing at 89.44 yen, within reach of the eight month high of 88.23 yen hit during Monday’s trading. The euro also took a substantial dip to 129.65 yen before recovering, ending the session 0.2% down at 130.05 yen.

Euro hits one year high against the dollar

Forex News — Tue, 22 Sep 2009 13:41:27 +0000

The dollar took another fall on Tuesday propelling the euro to a one year high against the US currency, as investors resumed selling ahead of the Federal Reserve’s monetary meeting later on this week.

Analysts believe that the fall of the dollar is also due to the Group of 20 summit to be held this week as they discuss the rebalancing of the global economy, which is almost certain to involve a weaker US dollar.

The euro saw a healthy rise of 0.8% in Tuesday’s session, taking it to $1.4798 a new one year high. The dollar also struggled against a host of other currencies, falling 0.7% against the yen to 91.35, 0.8% against the Swiss franc to 1.0235 and hitting a 13 month low against the New Zealand dollar.

Dollar rises against euro to end one year low

Forex News — Fri, 18 Sep 2009 11:38:10 +0000

The dollar edged up against a host of currencies on Friday and ended a year’s low against the euro, hit the day before as investors turned back to the ailing US currency. The dollar had been on a downward spiral since March as investors shifted to more risky assets due to signs that the economy was stabilising.

The euro was down against the US dollar by 0.2% following the morning session and after hitting a year high of $1.4768 against the dollar on Thursday.

The dollar also saw a rise of 0.2% against the yen, finishing at 91.30 and took a healthy 0.4% rise against the now struggling Sterling ending the session at $1.6383. The Australian and New Zealand dollars also fell against the greenback by 0.2% and 0.1% respectively after both hitting 13 month highs against the US currency on Thursday.

Euro slightly down against the dollar as investor look at riskier assets

Forex News — Tue, 04 Aug 2009 15:29:28 +0000

The euro dropped slightly today against the dollar as better than expected data pushed oil and commodity prices higher. The euro ended the session 0.2% down at $1.4387 against the dollar after a nine month high of $1.4445 reached on Monday.

The yen also saw a rise against a host of major currencies, including rising 0.2% against the dollar to 94.98 yen and up 0.4% against the euro, ending the session at 136.72 yen.

Meanwhile, the dollar hit a new nine month low against sterling of $1.7005, after it dropped more than two cents against the UK currency on Monday.

Dollar hits two month low against the euro

Forex News — Tue, 28 Jul 2009 09:51:37 +0000

The US dollar hit a two month low against the euro today, as investors turned to more riskier currencies, this boosted the Australian dollar to its highest level against the greenback since September 2008.

The Australian dollar rose by 1.3% finishing the session at $0.8339 and the New Zealand dollar also ended the session at a 10 month high of $0.6635 against the US dollar.

The euro also took advantage of the risk appetite rising 0.3% against the dollar to $1.4280 after hitting a high of $1.4305, whilst the Canadian dollar hit its highest level against the US currency this year of C$1.0750.

Investors now await some key economic data from Europe, as well as US house price data for May, with analysts predicting that the struggling housing market may be over the worst of its slump.

Yen up against euro and dollar after Bernanke’s Wall Street Journal column

Forex News — Tue, 21 Jul 2009 09:23:12 +0000

The yen was up against the euro and dollar in Asia this morning after the Federal Reserve Chairman Ben Bernanke released a Wall Street Journal article that stated that the central bank would have to stiffen its monetary policies in the future.

In the article, Mr Bernanke wrote that, “Accommodative policies will likely be warranted for an extended period,” adding that the Federal Reserve, “will need to tighten monetary policy to prevent the emergence of an inflation problem” as the economic recovery continues.

Bernanke’s article prompted investors to be more risk-adverse, selling the dollar and euro for the more stable yen. The dollar hit a low of 93.75 yen, compared to 94.23 posted on Monday, with the euro slipping to a day’s low of 133.18 yen.

Yen and dollar gain as investors play it safe

Forex News — Mon, 06 Jul 2009 11:20:19 +0000

Both the yen and the US dollar rose on Monday after last week’s weaker than expected US jobs data continued to cast doubts on a quick economic recovery. Investor’s confidence for more riskier assets took a dive after the US data showed that the American economy lost more jobs than expected, meaning investors stayed with the safety of the yen and the dollar.

European shares fell by 1.7%, hitting a seven week low, with the Australian dollar also struggling in the session. The euro fell by 0.3% in the session, down to $1.3922, while the Australian dollar fell by 0.8% to $0.7902.

The yen was the biggest winner during the session, raising 1.3% against the euro and 0.8% against the US dollar.

Swiss franc up as Swiss National Bank holds interest rates firm

Forex News — Thu, 18 Jun 2009 16:03:01 +0000

The Swiss franc was bolstered today as the Swiss National Bank kept interest rates at a record low. This rose the Swiss franc to a one month high against the euro, whilst sterling fell sharply after weak UK sales figures were released.

The euro’s fall helped prod the dollar up as the dollar index rose by 0.2 percent; this helped to recover some losses sustained by the greenback earlier this week after a glut of weak US economic data, including US inflation data was released.

Sterling was the session’s biggest loser, falling by 1 percent against the dollar as UK retail sales unexpectedly fell in May and public sector borrowing hit a new high.